Gold: Short Term and Long Term

Below are two charts of gold prices, one for the last 60 days and one for the last year. Notice how gold has been bumping around the $1400 mark for a while now. Also, notice on the one year chart how when this happened in the past, it was a precursor to the next big move.

Bottom line, the next big move in gold might be down to $1300 and then a big spike up from there, OR it could just be a big spike up. Either way, unless you are a short term trader, holding gold right now, and buying on the dips, is the way to go.